Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption. Bahrain
Saudi Arabia postpones 'Davos in the Desert' until 2027 amid Houthi attacks The Future Investment Initiative, which typically attracts the CEOs of some of the biggest companies in business, finance, and technology to Riyadh, will now be held next year. Saudi Arabia
Analysis How Hormuz crisis is reshaping economic ties between Iraq and Syria Iraq and Syria are expanding trade and energy cooperation, but security risks, economic challenges and longstanding mistrust raise questions about whether their growing partnership can endure. By Shelly Kittleson In Baghdad, reporting on Iraqi politics
Syria to rejoin Arab group at IMF, leaving Russian-led constituency Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD. Syria
Lebanese citizens see no relief as economic downturn worsens Amid plans to lift subsidies and private universities’ decision to raise tuition fees, the Lebanese people continue to suffer under the country’s crumbling economy with no end in sight. Lebanon
Turkish Central Bank to pursue tight monetary policy against inflation Turkey’s Central Bank Governor Naci Agbal said Wednesday he would seek to stem inflation, possibly through further rate hikes, pledging to continue tight monetary policies and stabilize the nation’s currency. Turkey
Iran’s budget banking on US lifting sanctions The projected reliance on oil revenues is wildly optimistic, likely making the budget a wish list, at best. Iran
Iraqi government considers sales tax to relieve budget crisis Iraq is mulling the possibility of imposing a sales tax amid concerns over the consequences of such a move on Iraqis already struggling in a down economy. Iraq
Jordan’s 2021 budget is a harbinger of worse things to come The Jordanian government approved the 2021 draft budget law, which suggests an even tougher and more unstable year for Jordanians, who are witnessing a growing economic crisis worsened by the coronavirus pandemic. Jordan
No relief in sight for Mideast hotspots after catastrophic 2020 Conflict, disease, famine compound crises in Gaza, Yemen, Syria. Regional
Turkish inflation creeps higher as Central Bank pressed to act Turkey’s annual inflation hit 14.03% in November, well above forecasts, raising pressure on the nation’s new Central Bank governor to impose tight monetary policies. Turkey
Cash-strapped Turkey relies on Qatari investments In only five years, Qatar has come to account for 15% of all foreign direct investments in Turkey, second only to deep-rooted Dutch investors. Turkey
Will reopening of border crossing drive Saudi investment in Iraq? Iraq and Saudi Arabia are opening the Arar border crossing, a move that should boost Saudi investment in Iraq. Saudi Arabia
Lebanon’s PM struggles to form Cabinet amid economic crisis Lebanon’s political elite have yet to form a government despite the urgency as the country slides further into economic collapse. Lebanon
Under new leadership, Turkish Central Bank delivers largest rate hike in two years Following a shakeup in Turkey’s economy team, Central Bank policy-makers raised a key interest rate to 15% Thursday, pledging to fight high inflation and bolster the nation’s troubled economy. Turkey
Iraq-Saudi border crossing reopens after 30 years The Arar crossing has remained closed since Iraq's invasion of Kuwait. Saudi Arabia
